First I would suggest sticking with the 40. I've never once come up from a dive thinking "Wow, I just had way too much air for that dive". However, if you were to find yourself in an OOA situation, you may find yourself thinking the opposite. Besides, as your diving progresses, you may be able to adapt the 40 to other uses.
Second, knowing how long a particular volume of air will last at a particular depth is a gas management skill. A skill apparently not taught in OW classes anymore. I would also suggest finding a qualified instructor to go over this with you in detail, but just for fun, lets have a whack at it.
For illustration purposes, lets use 1cf/min in an OOA situation.
@ 33fsw (2 ata)one diver would consume 2 cf/min. If two divers are breathing off the tank... 4 cf/min.
@66 fsw (3 ata)one diver would consume 3 cf/min. If two divers are breathing off the tank... 6 cf/min.
See how this works?
Dont forget to add in safety stops as needed.